Watch: Cinémas Guzzo CEO isn’t worried about the streaming wars

Vince Guzzo says that with streaming apps, the studios are just making up for the DVD business they lost.

Share Adjust Comment Print

Cinémas Guzzo CEO Vince Guzzo talks to the Financial Post’s Larysa Harapyn about how a minority government will affect the movie theatre business, and explains why streaming is nothing new for the industry.

Joining Netflix, Crave and Amazon Prime are Apple TV+, which launched Nov. 1 with highly promoted shows including Jennifer Aniston’s The Morning Show, and Disney Plus, which launched Nov. 12 with its Disney, Marvel and Star Wars properties, including the latter franchise’s new original series, The Mandalorian. More streamers to come from AT&T’s WarnerMedia and NBCUniversal’s Peacock, the latter of which is expected in April 2020.

“What’s really happening is that the businses that the studios lost — which is the DVD business, the video business — they are now gaining back,” Guzzo says. “In fact, let’s just remember this. We had a DVD market. You would make movies straight to DVD. You now make movies straight to streaming. Those movies were always labelled. … It was understood that those were subpar movies.”

Comments